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First, you find a home you love – either a new-build or one being resold as a resale. To start with, you buy a share of it. It can be from just 10%, but is usually between 25% and 75%, which means you will need a smaller deposit and mortgage. You can buy more shares of your home in the future, working towards owning your property outright. Whatever you decide, the SO Resi team is here to help make your homebuying journey straightforward.
Say you buy a 25% share of a flat worth £300,000 - that’s £75,000. You would need:
You will also pay:
You can apply to buy a shared ownership property if:
As a shared owner, you can buy more shares of your home at any time, from a minimum of 5%, working towards owning your property outright.
If your home was built after 2020, you may be able to buy a 1% share each year, for the first 15 years of ownership, with no hidden costs.
If you ever want to move on, it’s simple to sell your Shared Ownership home. SO Resi has a dedicated sales team to help with everything from valuing to marketing your home.